IMARC Group, a leading market research company, has recently releases report titled “Location of Things Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global location of things market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the location of things market?

The global location of things market size reached US$ 17.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 137.3 Billion by 2028, exhibiting a growth rate (CAGR) of 35.80% during 2023-2028.

What is Location of Things?

The concept of the “location of things” refers to the integration of geographic locations into various technologies, systems, and processes. Just as the Internet of Things (IoT) connects devices for seamless communication and data exchange, the location of things offers a spatial dimension to these connections. This capability is crucial in applications ranging from asset tracking and fleet management to city planning and emergency response. One of the defining features of this technology is its real-time capabilities; location data can be updated and analyzed in real time, offering dynamic insights into movements, resource allocation, and decision-making. The technology comes in various forms, including GPS, Bluetooth beacons, and RFID tags, catering to different levels of precision and application requirements. Advanced versions are integrating artificial intelligence and machine learning to make predictive analyses, thereby improving efficiency and resource management. Its compatibility with a wide range of industries like logistics, healthcare, retail, and public sector adds to its versatility.

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What are the growth prospects and trends in the location of things industry?

The increasing adoption of IoT devices that can integrate with location-based services is fueling demand. Moreover, advancements in data analytics and the growing need for spatial data in decision-making are propelling market growth. Besides this, the growing focus on smart city projects and sustainability initiatives is positively impacting the market. The technology is also becoming more accessible due to the proliferation of cloud-based platforms and APIs that simplify its integration into existing systems. Furthermore, the pandemic has accelerated digital transformation efforts across industries, bringing attention to the importance of real-time data and analytics, including location-based information, in navigating unpredictable circumstances. Other factors such as increased public awareness about the advantages of geospatial technology in emergency response and management, and the growing enterprise focus on improving operational efficiencies across the globe.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Location Type:

• Indoor Location
• Outdoor Location

Breakup by Application:

• Mapping and Navigation
• Location-based Customer Engagement and Advertising Platform
• Location-based Social Media Monitoring
• IOT Asset Management
• Location Intelligence

Breakup by Industry Vertical:

• BFSI
• Defense
• Government and Public Utilities
• Healthcare and Life Sciences
• Industrial Manufacturing
• Media and Entertainment
• Retail and E-commerce
• Transportation and Logistics
• Others

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Cloud Software Group, Inc.
• Environmental Systems Research Institute
• HERE Technologies
• International Business Machines Corporation
• Microsoft Corporation
• Navigine
• Pitney Bowes Inc.
• Qualcomm Incorporated
• Ubisense
• Verizon
• Wireless Logic
• Zebra Technologies Corp.

Browse the full report with TOC and list of Figures: https://www.imarcgroup.com/location-of-things-market

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